Nighthawk Energy plc Resource Update (1973X)

TIDMHAWK

RNS Number : 1973X

Nighthawk Energy plc

22 November 2017

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

Resource Update

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to the Arikaree Creek water flood Pilot project (the "Pilot").

Pilot Project Reserves

The Company engaged iReservior.com, Inc, an international geoscience and reservoir engineering consulting firm, to update the Company's internal estimates for the total EUR and incremental recoverable reserves for the Pilot. Shown in the following table are the updated current estimates, which have been made in accordance with SPE standards

 
                                     In Mbbls 
   Estimated Recovery                    1,239 
   Produced to date (est.)               (542) 
   Estimated remaining recoverable 
    reserves                               697 
                                     --------- 
   PDP currently booked                  (343) 
   Estimated incremental 
    recoverable reserves                   354 
                                     ========= 
----------------------------------------------

The estimated incremental recoverable reserves are a direct result of the Pilot implementation.

Enquiries:

 
 Nighthawk Energy plc 
 Rick McCullough, Executive 
  Chairman                          +1 303 407 9600 
 Kurtis Hooley, Chief 
  Financial Officer            +44 (0) 20 3582 1350 
 
 Stockdale Securities 
  Limited                      +44 (0) 20 7601 6100 
 Richard Johnson 
 Ed Thomas

Glossary

Mbbls - Thousand barrels of oil

OIP-Oil in place

PDP - Proved, developing, producing reserves

SPE - The Society of Petroleum Engineeers

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 34 years of experience in the oil and gas industry and meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU 596/2014).

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 22, 2017 02:01 ET (07:01 GMT)

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